Crypto Whales Accumulate Three Altcoins After Supreme Court's Tariff Ban Decision

The Supreme Court's decision to ban Donald Trump's tariff policy has had a significant impact on the crypto market, with analysts noting increased activity in three altcoins: Pump.fun (PUMP), Synthetix (SNX), and Onyxcoin (XCN).

Crypto whales have been observed accumulating these tokens, with Pump.fun seeing a 1.16% increase in whale holdings over the past 24 hours, bringing their total stash to 12.23 billion PUMP. This represents an accumulation worth around $280,000 at current prices.

The reason behind this behavior may lie in the price chart, which shows that Pump.fun is currently forming an inverse head-and-shoulders pattern on the 12-hour chart. If the token manages to break above the neckline resistance of $0.0022, it could target $0.0035, representing a potential upside of over 55%.

Synthetix has also seen increased activity, with mega whales accumulating the token after the Supreme Court's ruling against Trump's tariffs. The top 100 addresses have increased their holdings by 1.47%, bringing their total stash to 312.22 million SNX. This represents an accumulation worth approximately $1.83 million at current prices.

Onyxcoin has also seen whale activity, with the token's price chart showing a potential reversal signal. The Relative Strength Index (RSI) indicator formed a higher low between November 4 and February 19, while the price fell to a lower low. If Onyxcoin manages to break above the key breakout level of $0.0065, it could target $0.0098, representing a potential rally of 92% from current price levels.